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Moody’s — Indian fintech payment firms will face challenges extending payment dominance to other segments

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Research Announcement:

Moody’s — Indian fintech payment firms will

face challenges extending payment dominance to other segments

Singapore, March 17, 2022 —

» Companies’ dominance over banks in digital payments may not lead to competitive advantages,

because the network currently used for transactions levels the playing field for all firms

» India’s major banks are also intensifying the competition by significantly expanding their digital

offerings

Fintech payment companies in India have led the rapid growth of digital payments in the country, but

their dominance may not translate to competitive advantages to expand into other financial services.

In addition, India’s major banks have significantly beefed up their digital product offerings and can

withstand the competition from fintechs, according to a new report by Moody’s Investors Service.
Privately owned fintechs have spearheaded the creation and growth of digital payments in India,

particularly with the introduction of the Unified Payment Interface (UPI) in 2017 that allowed funds to

be transferred…

Read more…

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